BAILOUT IS DEFEATED BY FREE MARKET CONSERVATIVES

In September 1999, the New York times printed an interesting article. The beginning is quoted here:

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

This is an excellent article for understanding the source of the current Housing and Economic crisis. It is a prime example of how Government interference in the Free Market never works, always destabilizes, and creates a dependant class (and with this current bailout the dependants are wealthy Millionaires!). When well meaning diversity ideas wrongly applied become public policy, then we create a terrible system that winds up actually seriously hurting (via lost jobs, less credit available, etc.) the very people that the government was supposed to help to begin with. Here is the link:

Fannie Mae Eases Credit To Aid Mortgage Lending

For an alternative to the current Welfare for Millionaires Bailout plan go to:
Newt Gingrich.org

At that link, you can also download the FULL TEXT of the Bailout Bill and read it for yourself. I did read it and it's a mess. Thankfully, the House Republicans along with over 90 Democrats helped to defeat it. This is a great reminder to the arrogant Senate that the founding fathers created TWO chambers of congress for this very reason.

For those who want the Cliff Notes version: Here is a Video News Report:



Think about it! We all live in this country and it's our money they (the Congress) are spending. Thankfully today, we've seen democracy in action. Now, I'm going to sharpen up my Hunting, Fishing, and Farming skills and get ready for the coming economic depression. Sphere: Related Content